Core Viewpoint - MONGOL MINING anticipates a consolidated net profit between 5 million to 15 million USD for the fiscal year ending December 31, 2025, primarily due to a decline in sales prices of washed coking coal and a one-time loss from early redemption of senior notes [1] Financial Performance - The company's stock rose nearly 6%, trading at 13.32 HKD with a transaction volume of 16.7093 million HKD [1] - The expected profit decline is attributed to lower sales prices of washed coking coal and a one-time loss from redeeming senior notes at 109.27% of their face value [1] Financial Stability - Despite the anticipated decline in financial performance, the board believes the company is currently well-capitalized and maintains a strong cash position, enabling it to pursue its strategic and operational goals [1]

Core Viewpoint - Mongol Mining (00975) anticipates a consolidated net profit ranging from approximately $5 million to $15 million for the fiscal year ending December 31, 2025, primarily due to a decline in sales prices of washed coking coal and a one-time loss from the early redemption of senior notes maturing in 2026 at a redemption price of 109.27% [1] Financial Performance - The expected profit decline is attributed to lower sales prices of washed coking coal in 2025 [1] - A one-time loss will occur due to the early redemption of senior notes, which will impact the financial performance for the fiscal year [1] Financial Position - Despite the anticipated decline in financial performance, the company maintains a strong cash position and believes it has the capacity to achieve its strategic and operational goals [1]

Core Viewpoint - MONGOL MINING (00975.HK) anticipates a significant decline in net profit for the fiscal year ending December 31, 2025, projecting a range between approximately $5 million to $15 million, compared to a net profit of $243.6 million for the fiscal year ending December 31, 2024 [1] Financial Performance - The expected decline in profit is primarily attributed to a decrease in the selling price of washed coking coal in 2025 and a one-time loss incurred from the early redemption of 2026 maturing senior notes at a redemption price of 109.27% [1] - Despite the anticipated financial challenges, the company maintains a strong cash position and believes it has the capacity to pursue its strategic and operational goals [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不就因本公告全部或任何部分內容所產生或因依 賴該等內容而引致的任何損失承擔任何責任。 MONGOLIAN MINING CORPORATION 本公告乃由Mongolian Mining Corporation（「本公司」，連同其附屬公司，統稱「本 集團」）根據香港聯合交易所有限公司證券上市規則（「上市規則」）第13.09(2)(a)條 及證券及期貨條例（香港法例第571章）第XIVA部項下之內幕消息條文（定義見上 市規則）而作出。 本公司董事會（「董事會」）謹此通知本公司股東及潛在投資者，經對本集團截至二 零二五年十二月三十一日止年度的未經審核綜合管理賬目及目前可獲得的資料作 出初步審閱後，與截至二零二四年十二月三十一日止年度錄得綜合淨利潤243.6百 萬美元比較，預期本集團截至二零二五年十二月三十一日止年度將錄得綜合淨利 潤介乎約5.0百萬美元至15.0百萬美元。 有關利潤下降主要由於二零二五年洗選焦煤銷售價格下降，以及於二零二五年按 贖回價109.27%提前悉數贖回二零二六年到期的 ...

Group 1 - The core point of the article is that Mongolian Coal (00975.HK) experienced a significant decline in its stock price, dropping nearly 18% during trading and closing down 14.51% at HKD 12.2 [1] - The trading volume for Mongolian Coal reached HKD 259 million, indicating a high level of market activity despite the price drop [1]

蒙古焦煤就近期媒体报道发布澄清公告称，确认其营运附属公司ER及KEX已与蒙古国政府签署不具法 律约束力的谅解备忘录。根据备忘录，战略矿场的国家所有权权益要求将被豁免，改以与市价挂钩的特 别特许权使用费替代，蒙古国政府将享有矿场60%的累计经济利益。 蒙古焦煤(00975)盘中跌近18%，截至发稿，跌14.51%，报12.2港元，成交额2.59亿港元。 消息面上，据报道，近日，蒙古国总理赞丹沙塔尔与部分矿企签署收益分配初步协议，将乌哈胡达格、 纳林苏海特和巴鲁努纳兰(塔万陶勒盖矿区之一)以及额尔登特衍生铜矿的收益的60%，通过国家财富基 金以储蓄形式返还给蒙古国民众，切实履行企业社会责任，助力国家资源收益的合理分配。 ...

Core Viewpoint - Mongolian Coal (00975) experienced a significant decline in stock price, dropping nearly 18% during trading, with a current price of 12.2 HKD and a trading volume of 259 million HKD [1] Group 1: Government Agreements - The Prime Minister of Mongolia, L. Oyun-Erdene, signed preliminary agreements with several mining companies regarding revenue distribution [1] - The agreements stipulate that 60% of the revenue from specific mining projects will be returned to the Mongolian public through a national wealth fund, promoting corporate social responsibility and fair distribution of resource revenues [1] Group 2: Company Clarification - Mongolian Coal issued a clarification regarding recent media reports, confirming that its subsidiaries ER and KEX signed a non-binding memorandum of understanding with the Mongolian government [1] - The memorandum states that the requirement for national ownership rights in strategic mines will be waived, replaced by a special royalty linked to market prices, allowing the government to enjoy 60% of the cumulative economic benefits from the mines [1]

Investment Rating - The report provides a positive investment rating for the coal mining industry in Mongolia, highlighting its rich resources and potential for growth in exports, particularly to China [19][25]. Core Insights - Mongolia has abundant coal resources, with proven reserves of 252 million tons as of the end of 2020, including 135 million tons of lignite and brown coal, and 117 million tons of anthracite and bituminous coal [7][11]. - The coal mining sector is crucial for Mongolia's economy, with coal accounting for over 90% of the country's primary energy consumption, primarily used for power generation and exports [24][25]. - The report emphasizes the strategic importance of coal exports to China, which accounted for 94.9% of Mongolia's coal exports in 2024, showcasing the reliance on this market for growth [22][25]. Summary by Sections Coal Resource Overview - Mongolia's coal resources are mainly distributed across five regions, with the northern and southern areas being the most productive, contributing to 99% of the total output [7][11]. - The country has approximately 300 coal mines, with a significant portion of high-quality coking coal suitable for metallurgical processes [11][19]. Production and Export Trends - Coal production in Mongolia has seen fluctuations, with a peak of 32 million tons in 2011, primarily driven by export demand [21]. - The report forecasts a cumulative coal production of 97.72 million tons by 2024, reflecting a compound annual growth rate (CAGR) of 10.3% from 2013 to 2024 [21]. - In 2025, coal production is expected to slow down due to a decline in demand from the Chinese coking coal market [21]. Infrastructure and Trade Ports - Key coal export ports include Gashuunsukhait, Tsagaan Khad, and Mandula, with ongoing improvements in cross-border railway and logistics infrastructure to enhance export capacity [28][32]. - The report outlines various railway projects aimed at increasing coal export volumes by approximately 4 million tons annually [32]. Company Insights: Mongolian Coal - Mongolian Coal is identified as the largest high-quality coking coal producer and exporter in Mongolia, with a diversified resource portfolio including gold and copper [40][41]. - The company has strategically shifted towards resource diversification, reducing reliance on coal by expanding into gold and copper mining [46][90]. - As of mid-2025, the company reported total coal reserves of 612 million tons, with a focus on enhancing production capabilities and market presence [56][61]. Financial Performance - The company's revenue has shown significant growth, particularly from 2015 to 2019, driven by increased demand from infrastructure projects in China [55]. - The report notes a typical cyclical fluctuation in revenue, with a notable increase in 2022 and 2023, followed by a decrease in the first half of 2025 [55][61]. Cost Structure and Pricing - The report details the cost structure of coal production, with average costs remaining stable around $77 per ton from 2018 to the first half of 2025 [71]. - Pricing strategies are influenced by market dynamics, with a focus on maintaining competitive pricing in the context of international coal markets [68][70].

Investment Rating - The report provides a positive investment rating for the coal mining industry in Mongolia, highlighting its rich resources and potential for growth in exports, particularly to China [19][25]. Core Insights - Mongolia has abundant coal resources, with proven reserves of 252 million tons as of the end of 2020, including 135 million tons of lignite and brown coal, and 117 million tons of anthracite and bituminous coal [7][11]. - The coal mining sector is crucial for Mongolia's economy, with coal accounting for over 90% of the country's primary energy consumption, primarily used for power generation and exports [24][25]. - The report emphasizes the strategic importance of coal exports to China, which accounted for 94.9% of Mongolia's coal exports in 2024, showcasing the reliance on this market for growth [22][25]. Summary by Sections Coal Resource Overview - Mongolia's coal resources are distributed across various regions, with the northern and southern areas being the most productive, contributing to 99% of the total output [7][11]. - The country has approximately 300 coal mines, with a significant portion of high-quality coking coal suitable for metallurgical processes [11][19]. Production and Export Trends - Coal production in Mongolia has seen fluctuations, with a peak of 32 million tons in 2011, primarily driven by export demand [21]. - The report forecasts a cumulative coal production of 97.72 million tons by 2024, reflecting a compound annual growth rate (CAGR) of 10.3% from 2013 to 2024 [21]. - In 2025, coal production is expected to slow down due to a decline in demand from the Chinese coking coal market [21]. Infrastructure and Trade Ports - Key coal export ports include Gashuunsukhait, Tsagaan Khad, and Mandula, with ongoing improvements in cross-border railway and logistics infrastructure to enhance export capacity [28][32]. - The report outlines various railway projects aimed at increasing coal export volumes by approximately 4 million tons annually [32]. Company Analysis: Mongolian Coal - Mongolian Coal is identified as the largest producer and exporter of high-quality coking coal in Mongolia, with diversified mineral resource development including gold and copper [40][43]. - The company has a strategic focus on expanding its resource base and reducing dependency on coal by entering the gold and copper sectors [46][90]. - As of mid-2025, the company reported total coal reserves of 612 million tons, with significant production capabilities from its UHG and BN mines [56][58]. Financial Performance - The company's revenue has shown cyclical fluctuations, with significant growth from 2015 to 2019, followed by a contraction during the pandemic, and a resurgence in 2021-2024 [55]. - The report highlights that coal sales remain the primary revenue source, with hard coking coal contributing the majority of sales [55][67]. Cost Structure and Pricing - The report details the cost structure of coal production, with average costs remaining stable around $77 per ton from 2018 to mid-2025, despite fluctuations in transportation and compliance costs [71][74]. - Pricing strategies are influenced by market dynamics, with hard coking coal prices expected to stabilize around $160-$180 per ton in 2024 [70][71].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不就因本公告全部或任何部分內容所產生或因依 賴該等內容而引致的任何損失承擔任何責任。 1 截至本公告日期，概無就此議題與蒙古國政府訂立具法律約束力的協議。最終確 定協議文件在落實前將由蒙古國政府提交國會審閱及最終批准。 本公司認為，備忘錄代表在現行法律框架內找到非歧視性解決方案的重要一步， 最終將為所有相關持份者所接受，因而將改善蒙古國整個行業於投資的法律框 架。因此，本公司及其營運附屬公司（ER及KEX）將積極參與與蒙古國政府及其 工作組的正式溝通、書信往來及磋商，繼續維護其合法權益及權利的同時將提供 一切支持建設性對話的資源，從而在備忘錄界定的框架內促成最終協議文件的定 稿。 MONGOLIAN MINING CORPORATION （於開曼群島註冊成立的有限責任公司） （股份代號：975） 澄清公告 茲提述Mongolian Mining Corporation（「本公司」，連同其附屬公司統稱「本集團」） 日期為二零二五年二月二十七日及二零二五年三月六日的公告，以及於二零二五 年九 ...